The markup on an animal cage is 44% of the sale price. If the birdcage sells for $45.71, what was the cost to the nearest cent?
A. $25.71
B. $31.51
C. $14.80
D. $25.60
Answer: D
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If a company overstates its ending inventory balance for 2015 by $10,000, and overstates its ending inventory balance for 2014 by $5,000 what are the effects on its net income for 2015 and 2014? Effect on 2015 Net Income Effect on 2014 Net Income
a. Overstated by $15,000 Overstated by $10,000 b. Understated by $5,000 Overstated by $10,000 c. Overstated by $5,000 Overstated by $5,000 d. Overstated by $10,000 Overstated by $5,000
When leaders receive and learn from feedback from a variety of hierarchical and lateral sources, it is known as ______.
a. a performance prove model b. attribution feedback theory c. coaching d. 360-degree feedback
Which of the following is the SEC authorized by Congress to do? I. Monitor the standard-setting process of the FASB II. Set accounting standards III. Investigate and punish cases of deceptive financial reporting
a. Only III b. I and III c. I and II d. I, II, and III
The U.S. Internal Revenue Service requires that firms recognize bad debt expense only when they conclude an account is not collectible
Indicate whether the statement is true or false